Foot Locker 2011 Annual Report Download - page 69

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FOOT LOCKER, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
9. Other Intangible Assets, net
January 28, 2012 Wtd. Avg.
Life in
Years
January 29, 2011
($ in millions)
Gross
value
Accum.
amort.
Net
Value
Gross
value
Accum.
amort.
Net
Value
Amortized intangible
assets:
(1),(2)
Lease acquisition costs $171 $(149) $ 22 11.3 $178 $(150) $ 28
Trademarks 21 (8) 13 19.7 21 (7) 14
Loyalty program 1 (1) — — 1 (1) —
Favorable leases 7 (7) — 8.4 9 (8) 1
CCS customer relationships 21 (13) 8 5.0 21 (9) 12
$221 $(178) $ 43 11.4 $230 $(175) $ 55
Indefinite life intangible assets:
Republic of Ireland
trademark
(1)
12
CCS tradename
(3)
10 15
$11 $17
Identifiable intangible assets,
net $ 54 $ 72
(1) Includes the effect of foreign currency translation related primarily to the movements of the euro in relation to the U.S. dollar.
Additionally, the amounts presented for each of the periods reflects accumulated impairment charges of $2 million.
(2) The weighted-average useful life disclosed excludes those assets that are fully amortized.
(3) The net value of the CCS tradename at January 28, 2012 and January 29, 2011 includes impairment charges of $5 million and
$10 million, respectively, as described more fully in Note 3.
Amortizing intangible assets primarily represent lease acquisition costs, which are amounts that are
required to secure prime lease locations and other lease rights, primarily in Europe. During 2011,
additions of $7 million were recorded primarily from new leases in Europe. Retirements recorded during
2011 were $3 million. Amortization expense for intangibles subject to amortization was $16 million,
$17 million, and $19 million for 2011, 2010, and 2009, respectively. Estimated future amortization
expense for finite lived intangibles for the next five years is as follows:
(in millions)
2012 $14
2013 9
2014 4
2015 3
2016 2
49